Payment settlement in the construction industry is historically a complex, costly, paper-heavy process. Major savings can be achieved through improved productivity by applying leaner process management. A new system that could automate payment processing therefore had the potential to become a highly profitable industry standard. To address this gap in the market, ezPay developed a basic web-based payment processing system called eznetpay™, which manages financial and project relationships between builders, contractors, suppliers and their financiers.
Before it could be marketed and sold, however, a number of enhancements needed to be performed to productise eznetpay™. The invoicing process needed to be automated and integrated with a number of new modules and user interfaces to optimize workflow. With construction companies always looking for greater efficiencies and compliance to various government regulations, these enhancements had to be performed fast and rapidly delivered to the market.
As a start-up, ezPay wanted to stay focused on its business development and needed to find an expert partner with experience in developing high-availability online systems to implement the business-critical system enhancements.
Essential knowledge-building on the specifics of payment management was achieved thanks to a clear communication framework set up between ezPay and the Reksoft team, who selected the Microsoft .NET platform for software development.
We were then tasked with creating several new workflow modules to productize eznetpay and benefit various groups of users. An electronic documents module was developed to streamline simple but time-consuming tasks, such as invoicing. This reduced paperwork and sped up the overall payment process. The system’s user interface was redesigned for greater ease-of-use, making it more attractive to end users. A user activity tracker was implemented to act as a worklog, detailing and automating builders’ schedules. Contract templates were introduced to streamline agreements between contractors and suppliers, and a flexible retainage mechanism was developed to reduce risk and strengthen accountability.
By developing and integrating essential new modules, we successfully productized eznetpay, transforming it from a basic web-based payment processing system into an essential portal for the construction industry in all major financial transactions. Its comprehensive system features mean eznetpay™ is uniquely positioned to facilitate any “contract for service” that requires recurring pay requests, approval sequences, disbursements and data management. Previously cumbersome processes can now be achieved within hours. Secure payment mechanisms mean that our solution offers security and peace of mind, which increases the product’s appeal for all users.
Aside from the high degree of functionality introduced to eznetpay™ itself, our expert development brought ezPay a number of corollary business benefits. Involving a specialized offshoring provider dramatically shortened the product’s time to market, optimizing sales and marketability. This enabled ezPay to focus on core business development and increasing company competitiveness in the marketplace.
We are pleased to be engaged with Reksoft on engineering projects and impressed by its in-depth knowledge in Microsoft technologies. Reksoft demonstrated excellence in technology skills and commitment to serving ezPay and I have no doubts in recommending them as a reliable partner in software development.
John P. Trickel
CEO
ezPay, LLC
